If you look at other CRPGs it becomes quite apparent how disappointing the loot system really is. Even more so because DOS is fantastic in other departments. Some games do not allow you to craft, but they tend to have lots of placed items. And I'm talking about useful and powerful placed items (e.g. Baldur's Gate or IWD series). In other games crafting itself is strong enough so that you don't need to worry about random loot (e.g. Elder Scroll series).
I'm not talking about not having random loot at all or not making it difficult to craft great items. But finding loot should fill you with excitement and not lethargy (hey, another shield with +2 Intelligence and +1 Two-handed, awesome).